Deutsche Bank is eyeing the top spot in the Russian equity capital market league tables after being appointed to examine a possible $1bn (â¬732m) initial public offering for a Russian property developer.

The new mandate is from Coalco, which has hired both Deutsche and Merrill Lynch to study options for a possible initial public offering in London.

Russian lender Renaissance Capital is currently on top spot for advising on Russian equity capital markets deals, having worked on $3.8bn worth of deals so far this year, according to Dealogic. The tables cover work on all types of equity capital market deals.

Deutsche Bank has worked on $3.5bn worth of deals this year, but after Coalco the German lender would overtake Renaissance Capital to move into number one position. Merrill Lynch would move into eighth place after the deal, overtaking local player Troika Dialog.

In the initial public offering bookrunner ranking Deutsche Bank is already at number one, with Renaissance at number two, so the float will further cement the bank's position in the country. These tables only cover initial public offerings.

The issue would comprise up to 20% of the company in existing and new shares. The Russian company is owned by billionaire Vasily Anisimov.

This year Deutsche Bank has been pushing to expand in Russia and in April made a string of promotions in Moscow to lead its investment banking sector, after several bankers left.